ENTREPRENEUR: Nate Berkopec
PITCH: The Factionist, an ethical and environmentally-friendly apparel brand
ASKING FOR: $30k for a 20% stake.
BEST PART OF THE PITCH: Nate is a student at New York University who makes organic t-shirts featuring socially conscious messages. He's easy to like and very enthusiastic. Regarding his product, Nate says, "The Factionist is not just another apparel brand. It's a movement. It's time for you to invest in America's future." He has $3,000 in sales in six months but needs money to expand.
DO THE SHARKS BITE?The t-shirt business is brutally competitive. Robert says, "Nate, there are millions of other people with a movement who have more brand, more credibility, more PR, more everything." That seems to sum up what all the sharks are thinking. He doesn't have a brand on his shirt, so no one will know how to find what he's selling.
RESULT: As much as they like this guy's passion, no one can get behind the idea. Robert says, "You've got the passion. Don't ever lose that because that's infectious and you'll go a long way." Hey, Nate's only 19. Maybe we'll see him again someday back on Shark Tank with a better product.
WANT TO KNOW MORE: Visit www.thefactionist.com .
ENTREPRENEUR: Anthony and Tina Calvert
PITCH: The Podillow, a face-down tanning and massage pillow with storage pockets
ASKING FOR: $250k for a 33% stake.
BEST PART OF THE PITCH: Anthony is a 20-year veteran of the San Diego County Sheriff's Department. He admits that he's taken some razzing from his fellow officers over such a, well let's call it "fluffy" product. But it is practical because lying on your stomach is tough to do without the proper implement to prop up your head. They've sold about 6,000 units over two years. They cost about seven bucks to make and sell for $29.95. They are in two major catalogues and had to turn down purchase orders because they didn't have the inventory.
DO THE SHARKS BITE? Kevin O. doesn't believe the company is worth the asking price. Kevin H. thinks the Podillow is made for the beach. He doesn't want to invest in a seasonal/regional product. He's out. Daymond loves the product but thinks they missed the mark with the evaluation. He's out. Barbara and Robert feel the same way.
WANT TO KNOW MORE: Visit www.podillow.com .
ENTREPRENEUR: Kimberly and Matthew Foley
PITCH: Wee Can Shop, a store where kids can shop for the ones they love.
ASKING FOR: $200k for a 30% stake
BEST PART OF THE PITCH: Kimberly and Matthew are a brother and sister team who own Wee Can Shop, a family business with no competitors. As the store is geared towards children, they opt to tell their tale by having Kimberly read from a storybook. She begins, "Once upon a time, Kimberly and Matthew came up with a brilliant idea to open a gift shop where children shop for the ones they love." When Daymond asks about the passion they have for the shop, Kimberly becomes very emotional. It's obvious that she truly loves this whimsical world they created.
DO THE SHARKS BITE? Kimberly and Matthew have increased the amount of money they make each year, but still have only topped out at $13,000. Kevin O. says, "There's nothing more evil than a business that doesn't create a profit." He suggests they shut it down and he's out. Barbara bails because it seems like more of a hobby than a business. Kevin H. says they shouldn't shut it down, as it has grown over the years. But he's still out, as are Daymond and Robert. This can't quash Kimberly's passion. She says, "We're gonna be okay." We hope she's right.
WANT TO KNOW MORE: Visit www.WeeCanShop.com.
ENTREPRENEUR:Tim Stansbury and Erin Whalen
PITCH: Grease Monkey Wipes
ASKING FOR: $40k for a 40% stake
BEST PART OF THE PITCH: Tim and Erin are avid cyclists who wanted to create a product to remove grease and dirt that gets on your hands when you do things like change a bike tire. So they invented Grease Monkey Wipes, individually-packaged degreasing cleaning wipes. They are designed to clean the nastiest grease and grime. They can also clean permanent marker, paint and crayon. The product has been on the market for a few months and they've sold 7,600 wipes. DO THE SHARKS BITE? Daymond loved the presentation as well as Tim and Erin, but it's not the business for him. Kevin O. has a problem with the proprietary content, as the product is not patented. He's afraid someone will rip off the formula, so he's out. Kevin H. bails, as he believes the product isn't unique. Barbara can't warm up to it either, as she says she's never gotten her hands dirty. And then there was one.
RESULT: Robert is totally on the fence. Erin says, "I promise you, if you partner with us we will not let you down." He can't help but be impressed with these two. He jumps on board. As he does, Barbara admits that she was just going to jump back in. She says to Robert, "I love this girl so much...what do you say I do it 50-50 with you?" Robert welcomes her onboard. They have a deal!
WANT TO KNOW MORE: Visit www.greasemonkeywipes.com .
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